Finance & Banking , Fraud Management & Cybercrime , Industry Specific
ISMG Editors: Will SVB Crash Kill Cybersecurity Innovation?Also: Blackbaud Fined; DOJ Reproaches Federal Contractor for Lax Security
In the latest weekly update, four editors at Information Security Media Group discuss how the Silicon Valley Bank crash will affect innovation in the cybersecurity space, why the SEC fined cloud provider Blackbaud $3 million for providing "erroneous" breach details, and why the federal government fined a web hosting firm in a kids' insurance site hack.
See Also: OnDemand | The 5Is of Advanced Threat Management
The panelists - Anna Delaney, director, productions; Mathew Schwartz, executive editor, DataBreachToday & Europe; Marianne Kolbasuk McGee, executive editor, HealthcareInfoSecurity; and Michael Novinson, managing editor, ISMG Business - discuss:
- How last week's sudden downfall of Silicon Valley Bank - the second-largest bank failure in U.S. history - may affect access to capital and innovation in the cybersecurity industry;
- How Blackbaud, a company that provides fundraising and customer relationship management software tools, has agreed to pay $3 million to settle a Securities and Exchange Commission probe in relation to a 2020 ransomware attack;
- How Jelly Bean Communications Design, a web hosting company based in Florida that managed a website for children on the Children's Health Insurance Program, will pay nearly $300,000 to settle allegations stemming from a 2020 hacking incident that revealed the personal identifying information of hundreds of thousands of minors.
The ISMG Editors' Panel runs weekly. Don't miss our previous installments, including the March 3 edition, which discusses how the U.S. Supreme Court may limit the identity theft law, and the March 10 edition, which discusses the new U.S. national cybersecurity strategy.